To ensure the sustainability and viability of pension schemes, the Authority performs ongoing and in-depth monitoring of these operators.

This monitoring is carried out in accordance with the specific regulations governing the subject entity. The Authority's monitoring over pension funds covers the governance and management of the plan. The scope of the monitoring covers the technical activities (namely the contributions and benefits) and the financial management of the reserve funds.

The purpose of the Authority's monitoring is to ensure the financial and actuarial balance of these pension schemes. Based on the laws and regulations applicable to each scheme as well as on its own circulars, the Authority operates its monitoring over the pension schemes managed by the following institutions:


  • The Moroccan Pension Fund (CMR)
  • The National Social Security Fund (CNSS)
  • The Group Retirement Allowance Scheme (RCAR)
  • The Internal Fund of Bank Al Maghrib
  • The Internal Fund of ONEE-Electricity Branch.
Similarly, ACAPS ensures the monitoring and supervision of private-law bodies operating as defined benefit plans or defined benefit and contribution (Mutual Pension Funds) in compliance with the new legal framework established by Title II of Act No. 64-12.
In addition, the monitoring exercised by the Authority on the National Pension and Insurance Fund (CNRA) is based on the laws and regulations governing this fund as well as the circulars of the Authority taken in application of the law n ° 64-12 and Dahir instituting the CNRA.
The Authority's monitoring is exercised in accordance with the specific regulations governing each sector and is conducted according to two methods:
  • Based on documents provided by the entities subject to this monitoring : financial and statistical statements, board meetings minutes and reports, tables or any document likely to help check the financial situation of these bodies
  • On site, by sworn agents of the Authority.
In accordance with the provisions of article 11 of the law n°64-12 establishing the Authority, ACAPS addresses annually to the Head of Government a report on the results of its monitoring on the operations of pension or annuity operated or managed by public law persons.
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